HomeMy WebLinkAboutWHA BOARD MEETING AGENDA - 05/15/2008 AGENDA
WATERLOO HOUSING AUTHORITY BOARD
Thursday, May 15th, 2008
8:15 or following the agenda meeting
************************************
Council Chambers, 715 Mulberry Streets
A. Approval of Agenda
B. Approval of minutes from April 3",2008 as proposed
C. Old business
D. New business
1. Approval and Resolution of Operating Budget and
Expenditures.
2. Approval and Resolution of Capital Fund Grant for Public
Housing.
3. Approval and Resolution of contract with.John Rooff for 4-
Single Family New Construction
4. Approval of Memorandum Agreement From Wells Fargo for
submission of Homeownership Voucher payments.
5. Approval to place on file the Housing Authority's report
Adjourn
WATERLOO HOUSING AUTHORITY,Governing Board Minutes
April 3, 2008
8:25am
Waterloo City Hall—Council Chambers
Members Present: R. Schmitt,Getty,Hart,Welper,Greenwood, S. Schmitt,Zeiner,also present were
Weidner, Washington and Wessels.
Meeting called to order at 8:25am by Mr.Greenwood
Motioned by R Schmitt and seconded by S Schmitt that the Agenda be approved. Ayes: All
Motioned by R Schmitt, seconded by S Schmitt to approve the minutes from the January 17,2008
meeting be approved. Ayes: All.
Motioned by Getty, seconded by R Schmitt to approve the following travel request:
Ned Deberg to attend IAHO Spring Conference in Waterloo on April 2-4 at a cost of$375.
Motioned by Welper, seconded by Hart to approve the Waterloo Housing Authority's Annual
Plan for FY2008 which has completed it's 45 day comment period of which there were no
comments. Ayes: All. Motion Carried.
Motioned by R Schmitt, seconded by Welper to approve the 2008 HUD Payment Standards. Ayes: All.
Motion Carried.
Motioned by Welper, seconded by Hart to approve the Subordination Agreement for Sheila Ambrose @
421 Hope Ave. Ayes: All. Motion Carried.
Ethel explained that we received bids for waste pickup at Ridgeway Towers from Waste Management and
Black Hawk Waste,with the lower bid from Waste Management who is currently providing this service.
Motioned by S Schmitt,seconded by Hart to approve the bid to Waste Management for waste pick-up at
Ridgeway Towers. Ayes: All. Motion Carried.
Motioned by Getty,seconded by Hart to approve the termination of interim FSS Withdrawals. Ayes;
All. Motion Carried.
Motioned by Getty,seconded by S Schmitt to accept bids to install a storm sewer intake at the north
entrance of Ridgeway Towers. Ayes: All. Motion Carried.
Motioned by S Schmitt,seconded by Hart to accept the bid from Don Gardner Construction to replace the
panic bar parts on the south door at Ridgeway Towers. Ayes: All. Motion Carried.
Motioned by S Schmitt, seconded by Hart to approve the disposal of old furniture. Ayes: All. Motion
Carried.
Motion made by Hart, seconded by S Schmitt to adjourn the meeting. Meeting adjourned.
jiir CITY OF WATERLOO , IOWA
8. ' '� WATERLOO HOUSING AUTHORITY
620 MulberrySt., Carnegie Annex g Waterloo, IA 50703 • (319) 233-0201 Fax (319) 291-4288
tOrIoo % DONALD TEMEYER • Community Planning&Development Director
Date: May 15th, 2008
Mayor
TIMOTHY J. To: The Waterloo Housing Authority Board
HURLEY From: Ethel Washington, Director
COUNCIL
MEMBERS Re: Resolution and acceptance of the HUD Statement of Operating
Subsidy and Expenditures
REGINALD A.
SCHMITT
Ward i Following is the calculated Statement of Operating Subsidy and
CAROLYN Expenditures
COLE for the Waterloo Housing Authority's Ridgeway Towers fiscal year ended
Wald 2 6/30/2008.
HAROLD
GETTY Fee Accountant and The Department of Housing and Urban Development
Ward 3 has calculated the Statement of Operating Subsidy, and Expenditures for
QUENTIN M. Ridgeway Towers Public Housing Program.
HART This Statement includes the rental income received from Ridgeway Towers
Ward 4and any income such as interest etc.
RON The Subsidy of$54,827.00 is included. Included also is the resident
WELPER participation fund in the amount of$1200.00.
Ward 5
BOB
Additional) resident participation activities are intended to supplement
GREENWOODGRE y� 1� p
At-Large Housing Authority Activities, minimal refreshment costs that are directly
STEVE related to resident meetings and training for tenants.
SCHMITT
At-Large The grant enables the Housing Authorities to keep rents affordable for low-
income families and covers a variety of expenses such as maintenance,
utilities, and other tenant services.
The Waterloo Housing Authority is requesting the board's approval of the
above Statement of Operating Subsidy and Expenditures.
See Attachment:
CITY WEBSITE:www.ci.waterloo.ia.us
WE'RE WORKING FOR YOU!
An Equal Opportunity/Affirmative Action Employer
1
Operating Fund U.S. Department of Housing and
Calculation of Operating Subsidy Urban Development
PHA-Owned Rental Housing Office of Public and Indian Housing
OMB Approval No.2577-0029 (exp. 10/31/2008)
Public Reporting Burden for this collection of information is estimated to average.75 hours per response,including the time for reviewing instructions,searching existing data
sources,gathering and maintaining the data needed,and completing and reviewing the collection of information.This agency may not collect this information,and you are not
required to complete this form,unless it displays a currently valid OMB control number.This information is required by Section 9(a)of the U.S.Housing Act of 1937,as amended,
and by 24 CFR Part 990 HUD regulations. HUD makes payments for the operation and maintenance of low-income housing projects to PHAs/projects.The Operating Fund
determines the amount of operating subsidy to be paid to PHAs/projects.PHAs/projects provide information on the Project Expense Level(PEL),Utilities Expense Level(UEL),
Other Formula Expenses(Add-ons)and Formula Income—the major Operating Fund components.HUD reviews the information to determine each PHA's/project's Formula
obligated for the Funding Period to each PHA/project based on the appropriation by Congress.HUD also uses the information as the basis for requesting annual appropriations
from Congress.Responses to the collection of information are required to obtain a benefit.The information requested does not lend itself to confidentiality.
Enter Total Number of ACC Units for this PHA> > 50
Section 1
1.Name and Address of Public Housing Agency: 2.Funding Period:, 01/01/2008 to 12/31/2008
Waterloo Housing Authority
620 Mulberry St.-#102 3. : Original
Type of Submission:
Waterloo,IA 50703 r"Revision No.
4.ACC Number: 5.Fiscal Year End: 6.Operating Fund Project Number:
KC-3047 r-12/31 r 03131 w 06/30 r 09/30-. IA050000050
7.DUNS Number: HUD Use Only
145691098 8.ROFO Code: 0705
Section'2
Calculation of ACC Units for 12-month period from July 1 to June 30 that is prior to the first day of the Funding Period:
ACC Units on 7/1/2006 Units Added to ACC Units Deleted from ACC ACC Units on 6/30/2007
(+) (-) ( )
Requested by PHA 50 0 0 5
HUD Modifications
Column A Column B Column C
Line Eligible Unit Months Resident Participation Unit
No. Category Unit Months g (EUMs) Months
Req'd by PHA HUD Mod. Req'd by PHA HUD Mod. Req'd by PHA HUD Mod.
Categorization of Unit Months:
Occupied Unit Months
01 Occupied dwelling units--by public housing eligible
571 1 a 57
family under lease
Occupied dwelling units--by PHA employee,police
02 officer,or other security personnel who is not 0
otherwise eligible forpublic housing
9 9
New units--eligible to receive subsidy during the
ram.
03 Funding Period but not included on Lines 01,02,or 0 r 0
05-13 of this section
New units--eligible to receive subsidy from 10/1 to
04 12/31 of previous
funding period but not included on
previous Calculation of Operating Subsidy .�
Vacant Unit Months 05 Units undergoing modernization 0
06 Special use units 0 v. T, y,
Units on Line 02 that are occupied by police officers
06a and that also qualify as special use units
07 Units vacant due to litigation
08 Units vacant due to disasters 0 F t ~E
09 Units vacant due to casualty losses 0 0
10 Units vacant due to changing market conditions 0 U K
11 Units vacant and not categorized above 5 " '
Other ACC Unit Months
12 Units eligible for asset repositioning fee and still on
ACC(occupied or vacant) 0 ti
13 All other ACC units not categorized above 24 1
Previous edition is obsolete Page 1 form HUD-52723(08/2005)
Operating Fund Project No.: IA050000050
Calculations Based on Unit Months:
14 Limited vacancies
15 Total Unit Months 126015131,31112131111111.11WILIO
Units eligible for funding for resident participation '
16 activities Line 15C divided b 12 .
S•ecial Provision for Calculation of Utilities Ex.ense Level:
Unit months for which actual consumption is r„-
included on Line 01 of form HUD-52722 and that ket.mx nit;
17 were removed from Lines 01 through 11,above, 0 h
because of removal from inventory,including
eligibility for the asset repositioning fee tie `
Section 3
Line Description Requested by PHA HUD Modifications
No.
Part A. Formula Expenses
Project Expense Level(PEL)
01 PUM project expense level(PEL) nOMIVA014440§21W5M P.
tv-
02 Inflation factor Z .
03 PUM inflated PEL(Part A,Line 01 times Line 02) 15
04 PEL Part A,Line 03 times Section 2,Line 15,Column B) t ;
;� � i��,$1�7693 1: :ter.
Utilities Expense Level(UEL)
05 PUM utilities expense level(UEL)(from Line 26 of form HUD-52722)
$65 70
06 UEL(Part A,Line 05 times Section 2,Line 15,Column B) $ 7 3
Add-Ons
07 Self-sufficiency $0
08 Energy loan amortization
09 Payment in lieu of taxes(PILOT) a
tiiign
10 Cost of independent audit =
11 Funding for resident participation activities 12 Asset management fee ❑ Eligible for an Asset Management Fee I
13 Information technology fee
14 Asset repositioning fee
15 Costs attributable to changes in federal law,regulation,or economy $0
16 Total Add-Ons(Sum of Part A,Lines 07 through 15)
17 Total Formula Expenses(Part A,Line 04 plus Line 06 plus Line 16) ggg
.� _,_• �.,. _. .. _._fin.
Part B.Formula Income
01 PUM formula income
$232.12 '44grlAiA
02 PUM change in utility allowances $0 00 s .>
03 PUM adjusted formula income(Sum of Part B,Lines 01 and 02)
04 Total Formula Income(Part B,Line 03 times Section 2,Line 15,Column B) t ""
Part C.Other Formula Provisions
01 Moving-to-Work(MTW) $0
02 Transition funding $0
03 Other $0
04 Total Other Formula Provisions(Sum of Part C,Lines 01 through 03)
Part D.Calculation of Formula Amount
01 Formula calculation(Part A,Line 17 minus Part B,Line 04 plus Part C,Line 04) $g ,gg7
02 Cost of independent audit(Same as Part A,Line 10) a A
03 Formula amount(Greater of Part D,Lines 01 or 02) 0$ -4 _
Part E.Calculation of Operating Subsidy(HUD Use Only) , .
01 Formula amount(Same as Part D,Line 03) J244A
02 Adjustment due to availability of funds
03 HUD discretionary adjustments
04 Funds Obligated for Period(Part E,Line 01 minus Line 02 minus Line 03)
Appropriation symbol(s):
Previous edition is obsolete Page 2 form HUD-52723(08/2005)
Operating Budget U.S.Department of Housing
Schedule of Administration and Urban Development
Expense Other Than Salary Office of Public and Indian Housing
OMB Approval No.2577-0026(Exp.10/31/2009)
Public Reporting Burden for this collection of information is estimated to average 1.0 hour per response,including the time for reviewing instructions,searching existing data
sources,gathering and maintaining the data needed,and completing and reviewing the collection of information.Send comments regarding this burden estimate or any other
aspect of this collection of information,including suggestions for reducing this burden,to the Reports Management Officer,Office of Information Policies and Systems,U.S.
Department of Housing and Urban Development,Washington, D.C.20410-3600 and to the Office of Management and Budget, Paperwork Reduction Project(2577-0026),
Washington,D.C.20503.Do not send this completed form to either of the above addressees.
Name of Local Authority Locality: Fiscal Year End:
Waterloo 620 Mulberry Street
Housing Authority Waterloo, IA 50703-5713 June 30,2009
(1) (2) (3) (4) (5) (6)
Description Total Management Development Section 8 Other
1 Legal Expense(See Special Note in Instructions) $ 300 $ 300
2 Training(list and provide justification) 1,500 1,500
3 Travel
Trips To Conventions and Meetings(list and provide justification) 1,000 1,000
4 Other LHA Travel:
Outside Area of LHA Jurisdiction
5 Within Area of LHA Jurisdiction
6 Total Travel 1,000 1,000
7 Accounting 2,250 2,250
8 Auditing 1,000 1,000
Sundry
9 Rental of Office Space
10 Publications
11 Membership Dues and Fees(list organization and amount)
12 Telephone,Fax,Electronic Communications 1,800 1,800
13 Collection Agent Fees and Court Costs
14 Administrative Services Contract
15 Forms,Stationary and Office Supplies 440 440
16 Other Sundry Expense(provide breakdown) 1,190 1,190
17 Total Sundry 3,430 3,430
18 Total Administration Expense Other Than Salaries $ 9,480 $ 9,480
To the best of my knowledge,all the information stated herein,as well as any information provided in the accompaniment herewith,is true and
accurate.
Warning:HUD will prosecute false claims and statements.Conviction may result in criminal and/or civil penalties.
(18 U.S.C. 1001, 1010,1012;31 U.S.C.3729,3802)
Signature of authorized representative&Date:
X Executive Director 5/8/2008
farm HUD-52571 (3/95)
ref Handbook 7475.1
Page 1 of 1
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%r, 14 CITY OF WATERLOO , IOWA
WATERLOO HOUSING AUTHORITY
O+tr 620 Mulberry St., Carnegie Annex • Waterloo, IA 50703 • (319) 233-0201 Fax (319) 291-4288
(641100 DONALD TEMEYER • Community Planning&Development Director
Mayor Date: May 15th, 2008
TIMOTHY J.
HURLEY
To: Mayor Tim Hurley and the WHA Board
COUNCIL From: Ethel Washington,Executive Director
MEMBERS
REGINALD A.
SCHMITT
Ward 1 Subject: Approval and Resolution to accept the 2008 HUD Capital fund grant
CAROLYN
COLE The Waterloo Housing Authority (WHA) received notice of Capital Funds Program
Ward 2 (CFP) funding availability of$61,948.00 for FY08.
HAROLD The purpose of the grant is for modernization projects at Ridgeway Towers such as roofs,
GETTY
Ward 3 windows, kitchen cabinets,etc.
QUENTIN M. The Housing Authority's share was calculated on the basis of current information
HA R available in HUD's data system regarding the age of our units, the number of bedrooms
d 4
and the total number of units rather than on an as needed basis.
RON
WELPER The application and budget submitted can be revised at any time during the next year.
Ward s The funds have to be expended during the next four years for a range of projects from
BOB operating expenses at Ridgeway Towers to furniture and building maintenance.
GREENWOOD
At-Large The Director is requesting the Board's approval of the Capital Fund Contract.
STEVE
SCHMITT
At-Large See attachment:
CITY WEBSITE:www.ci.waterloo.ia.us
WE'RE WORKING FOR YOU!
An Equal Opportunity/Affirmative Action Employer
Capital Fund Program U.S.Department of Housing
(CFP) Amendment and Urban Development
To The Consolidated Annual Contributions Office of Public and Indian Housing
Contract (form HUD-53012)
Whereas, (Public Housing Authority)Waterloo Housing Authority(IA050)(herein called the"PHA")
and the United States of America,Secretary of Housing and Urban Development(herein called"HUD")entered into Consolidated Annual Contributions
Contract(s)ACC(s)Number(s) KC-3047 dated:11/15/1995
Whereas, HUD has agreed to provide CFP assistance,upon execution of this Amendment,to the PHA in the amount to be specified below for the
purpose of assisting the PHA in carrying out capital and management activities at existing public housing developments in order to ensure that such
developments continue to be available to serve low-income families:
$61,948 for Fiscal Year 2008 to be referred to under Capital Fund Grant Number IA05P05050108
PHA Tax Identification Number(TIN).On File
Whereas, HUD and the PHA are entering into the CFP Amendment Number
Now Therefore,the ACC(s)is(are)amended as follows: 4.Subject to the provisions of the ACC(s)and paragraph 3.and to assist
in the capital and management activities,HUD agrees to disburse to the
1.The ACC(s)is(are)amended to provide CFP assistance in the amount PHA or the designated trustee from time to time as needed up to the
specified above for capital and management activities of PHA amount of the funding assistance specified herein.
developments. This amendment is a part of the ACC(s).
5.The PHA shall continue to operate each development as low-income
2.The capital and management activities shall be carried out in housing in compliance with the ACC(s),as amended,the Act and all HUD
accordance with all HUD regulations and other requirements applicable to regulations for a period of twenty years after the last disbursement of CFP
the Capital Fund Program. assistance for modernization activities and for a period of forty years after
the last distribution of CFP assistance for development activities.
3.(Check one) However,the provisions of Section 7 of the ACC shall remain in effect for
so long as HUD determines there is any outstanding indebtedness of the
a. In accordance with the HUD regulations,the Annual PHA PHA to HUD which arose in connection with any development(s)under
Plan has been adopted by the PHA and approved by HUD,and may be the ACC(s)and which is not eligible for forgiveness,and provided further
amended from time to time. The capital and management activities shall that,for a period of ten years following the last payment of assistance
be carried out as described in the Annual PHA Plan Capital Fund Annual from the Operating Fund to the PHA,no disposition of any development
Statement. covered by this amendment shall occur unless approved by HUD.
OR
6.The PHA will apply for the entire CFP assistance amount for this FY. If
b.The Annual PHA Plan has not been adopted by the PHA the PHA does not comply with any of its obligations under this
and approved by HUD. The PHA may use its CFP assistance under this Amendment and does not have its Annual PHA Plan approved within the
contract for work items contained in its 5-Year Plan,before the Annual period specified by HUD,HUD shall impose such penalties or take such
PHA Plan is approved. remedial action as provided by law. HUD may direct the PHA to terminate
all work described in the Capital Fund Annual Statement of the Annual
For cases where HUD has approved a Capital Fund Financing PHA Plan. In such case,the PHA shall only incur additional costs with
Amendment to the ACC(CFF Amendment attached),HUD will deduct the HUD approval.
payment for amortization scheduled payments from the grant immediately
on the effective date of this CFP Amendment. The payment of CFP funds 7.Implementation or use of funding assistance provided under this
due per the amortization scheduled will be made directly to a designated Amendment is subject to attached corrective action order(s).
trustee(Trustee Agreement attached)within 3 days of the due date.
Whether 3.a or 3.b is selected above,the 24 month time period in (mark one) : Yes No
which the PHA must obligate this CFP assistance pursuant to section
9(j)(1)of the Untied States Housing Act of 1937,as amended,(the"Act")
and 48 month time period in which the PHA must expend this CFP 8.The PHA acknowledges its responsibility for adherence to this
assistance pursuant to section 9(j)(5)of the Act starts with the effective Amendment by subgrantees to which it makes funding assistance herein
date of this CFP amendment(the date on which CFP assistance becomes available.
available to the PHA for obligation).
The parties have executed this Agreement,and it will be effective on 6/13/2008.This is the date on which CFP assistance becomes
available to the PHA for obligation.
U.S.Department of Housing and Urban Development PHA Executive Director
By Date: By
Date:
Title Title
Previous versions obsolete form HUD-52840-A 03/04/2003
A I�� CITY OF WATERLOO , IOWA
ihliq IN....illi WATERLOO HOUSING AUTHORITY
'8 4. 620 Mulberry St., Carnegie Annex • Waterloo, IA 50703 • (319) 233-0201 Fax (319) 291-4288
�tetjnr �o DONALD TEMEYER • Community Planning&Development Director
Mayor Date: 5/15/2008
TIMOTHY J.
HURLEY To: Mayor Tim Hurley and WHA Board Members
From: Ethel Washington,Director
COUNCIL
MEMBERS RE: Approval of a Wells Fargo Memorandum of Agreement
REGINALD A.
SCHMITT In an effort to establish a cooperative relationshipbetween the Lenders and Agencies, the
Itiard 1 p
City of Waterloo instituted an effort to coordinate an agreement between the agencies to
CAROLYN ensure that low-income families in Public and Section 8 housing become self-sufficient
COLE and can own homes.
Ward 2 In particular, Public Housing Authorities were to enter into a Memorandum of
HAROLD Agreement(MOA)to make a best effort attempt to work with agencies in providing self-
GETTY sufficiency related services such as the Home Ownership Voucher assistance. The request
Ward; is for the following:
QUENTIN M.
HART 1. The PHA will ensure the Family enrolls in the Lender's Automatic Mortgage
Ward 4 Payment Program ("AMP")prior to loan closing and will supply the lender
with a completed AMP application(refer to attachment).
RON
WELPER
Ward 5 2. The PHA will deposit the monthly Housing Choice Voucher(HCV) assistance
fi monthintothe, and noestablished later thanchecking the fiorfthsavings to avoid the assessmentaccountbythe ofrst additionalofeach charges.calendar
BOB
GREENWOOD
At-Large
3. The Family will deposit their portion of the monthly mortgage payment(i.e.,
STEVE scheduled mortgage payment less Housing Choice Voucher assistance)into the
SCHMITT established checking or savings account by the first of each calendar month, and
At Large no later than the fifth,to avoid the assessment of additional charges.
The Waterloo Housing Authority is requesting a Board Approval for the Memorandum of
Agreement with Wells Fargo Mortgage to electronically deposit payments for the
Homeownership Voucher participants only.
EW/JW
CITY WEBSITE:www.ci.waterloo.ia.us
WE'RE WORKING FOR YOU!
An Equal Opportunity/Affirmative Action Employer
Rev.07/2004 Page 1 of 3 Pages
MEMORANDUM OF UNDERSTANDING
SECTION 8 HOUSING CHOICE VOUCHER ASSISTANCE
PROGRAM
THIS MEMORANDUM is by and between
, a
Public Housing Agency(hereinafter referred to as "PHA") and Wells Fargo Home
Mortgage
(hereinafter referred to as "Lender").
WHEREAS, the PHA has the authority and capacity to operate and administer the
Department of Housing and Urban Development Section 8 Housing Choice Voucher
Assistance
Program(hereinafter referred to "HCV")pursuant to HUD regulations, and
WHEREAS, the Lender wishes to participate in the HCV program administered by the
PHA in connection with mortgage loans it will make available for the acquisition of new
and
existing single-family residential units.
WHEREAS, prior to the execution of this Memorandum of Understanding ("MOU"), the
PHA has provided Lender with any and all HCV Assistance Program requirements,
which
specify, among other things, the standards the PHA will use in reviewing and approving
financing under the HCV Assistance Program. The PHA agrees that it will provide
immediate
written notice to the Lender of any modification of the HCV Assistance Program
requirements.
NOW THEREFORE, in consideration of the assurances set forth herein,the parties
agree as follows:
1. The PHA will comply with all applicable laws and regulations related to the HCV
Assistance
Program, including but not limited to those set forth in 24 CFR parts 5, 903 and 982,
including any amendments thereto.
2. The PHA will ensure that individuals are qualified applicants or participants
(hereinafter
referred to as "Family") in the PHA's HCV Assistance Program and will ensure the
Family
meets all HUD established requirements.
3. The PHA will ensure the Family successfully completes a HUD approved
homeownershipcounseling
course and will be responsible for providing on going counseling as needed.
4. The PHA will ensure the Sales/Purchase Contract meets HUD and PHA established
requirements.
5. The PHA will ensure the unit is a new or existing 1-unit single-family residence,
condominium, PUD, or manufactured home on a permanent foundation.
6. The PHA will ensure that the unit meets all HUD and PHA established requirements.
Rev.07/2004 Page 2 of 3 Pages
7. The PHA will ensure an HQS Inspection and Independent Inspection is performed on
the
unit.
8. The PHA will notify Lender in writing of their approval of the unit, the sale/purchase
contract terms, and Lender's loan financing terms.
9. The PHA will provide Lender the following items in connection with each Family:
o Copy of Voucher Letter indicating the amount and term of HCV assistance to be
provided in order for Lender to pre-approve/pre-qualify the Family for a mortgage loan.
o Written evidence that the Family has completed homebuyer counseling.
o Copy of HQS Inspection Report.
o Copy of Independent Home Inspection Report.
10. The PHA is aware the Lender will not be providing loan status reporting or any
nonpublic
customer information on HCV assisted transactions.
IT IS FURTHER AGREED AND ACKNOWLEDGED,that during the full term of
each mortgage note relating to a Family's purchase of property("Mortgage Note"),
including the
HCV assistance period, each mortgage loan will amortize at its Mortgage Note interest
rate.
Each mortgagor receiving HCV assistance ("Mortgagor") will remain primarily liable for
payment of the full monthly payment of principal and interest as provided in the
Mortgage Note,
and for all other obligations of the Mortgagor as provided in his or her Mortgage Note
and
Mortgage, notwithstanding the PHA's approval of HCV assistance, the financing, or any
of
PHA's representations and obligations under this MOU.
IT IS FURTHER AGREED that the payment options listed below are the only HCV
payment assistance methods in which the Lender will participate in connection with the
PHA's
HCV program. The PHA has selected the following payment option as indicated by an
(X)
below:
() Option I
1. The PHA will remit the monthly HCV assistance directly to the Family by the first of
each
calendar month in which the Family is eligible to receive HCV assistance.
2. The Family will be responsible for remitting the entire monthly mortgage payment
(100%) to
the Lender by the scheduled due date, and no later than the fifteenth,to avoid the
assessment
of additional charges.
() Option II
1. The Family will remit their portion of the monthly mortgage payment(i.e., scheduled
mortgage payment less HCV assistance)to the PHA by the first of each calendar month.
2. The PHA will be responsible for remitting the entire monthly mortgage payment
(100%)to
the Lender by the scheduled due date, and no later than the fifteenth,to avoid the
assessment
of additional charges.
Rev.07/2004 Page 2 of 3 Pages
7. The PHA will ensure an HQS Inspection and Independent Inspection is performed on
the
unit.
8. The PHA will notify Lender in writing of their approval of the unit, the sale/purchase
contract terms, and Lender's loan financing terms.
9. The PHA will provide Lender the following items in connection with each Family:
o Copy of Voucher Letter indicating the amount and term of HCV assistance to be
provided in order for Lender to pre-approve/pre-qualify the Family for a mortgage loan.
o Written evidence that the Family has completed homebuyer counseling.
o Copy of HQS Inspection Report.
o Copy of Independent Home Inspection Report.
10. The PHA is aware the Lender will not be providing loan status reporting or any
nonpublic
customer information on HCV assisted transactions.
IT IS FURTHER AGREED AND ACKNOWLEDGED, that during the full term of
each mortgage note relating to a Family's purchase of property("Mortgage Note"),
including the
HCV assistance period, each mortgage loan will amortize at its Mortgage Note interest
rate.
Each mortgagor receiving HCV assistance ("Mortgagor") will remain primarily liable for
payment of the full monthly payment of principal and interest as provided in the
Mortgage Note,
and for all other obligations of the Mortgagor as provided in his or her Mortgage Note
and
Mortgage, notwithstanding the PHA's approval of HCV assistance,the financing, or any
of
PHA's representations and obligations under this MOU.
IT IS FURTHER AGREED that the payment options listed below are the only HCV
payment assistance methods in which the Lender will participate in connection with the
PHA's
HCV program. The PHA has selected the following payment option as indicated by an
(X)
below:
() Option I
1. The PHA will remit the monthly HCV assistance directly to the Family by the first of
each
calendar month in which the Family is eligible to receive HCV assistance.
2. The Family will be responsible for remitting the entire monthly mortgage payment
(100%)to
the Lender by the scheduled due date, and no later than the fifteenth,to avoid the
assessment
of additional charges.
() Option II
1. The Family will remit their portion of the monthly mortgage payment(i.e., scheduled
mortgage payment less HCV assistance)to the PHA by the first of each calendar month.
2. The PHA will be responsible for remitting the entire monthly mortgage payment
(100%)to
the Lender by the scheduled due date, and no later than the fifteenth,to avoid the
assessment
of additional charges.
Rev. 07/2004 Page 3 of 3 Pages
() Option III
1. The PHA and Family will establish a joint checking or savings account to allow
Lender to
initiate electronic withdrawals from the account for payment of the monthly mortgage
payment due Lender.
2. The PHA will ensure the Family enrolls in the Lender's Automatic Mortgage Payment
Program ("AMP")prior to loan closing and will supply the lender with a completed AMP
application(refer to attachment).
3. The PHA will deposit the monthly HCV assistance into the established checking or
savings
account by the first of each calendar month, and no later than the fifth to avoid the
assessment of additional charges.
4. The Family will deposit their portion of the monthly mortgage payment (i.e., scheduled
mortgage payment less HCV assistance) into the established checking or savings account
by
the first of each calendar month, and no later than the fifth, to avoid the assessment of
additional charges.
5. Duration of memorandum
Modifications and specifications may be added to this memorandum, or a new agreement
developed, as relationships become further defined and extended.
This agreement may be amended by mutual consent of the parties herein as subject to
modification in accordance with amendments to the appropriate state statutes or federal
legislation and regulations and/or general instruction issued by the appropriate agencies
of federal or state government. This agreement is not intended to preclude supporting
contracts and agreements among the parties hereto for the performance of services not
covered by this agreement.
It is understood that either party may terminate this agreement by giving a written thirty
(30) calendar days notice prior to such termination.
By signing this agreement all parties are agreeing to the content herein.
Wells Fargo Home Mortgage Public Housing Agency Name (PHA)
Print Name Print Name
Signature of PHA
May 15th, 2008
THE WATERLOO HOUSING AUTHORITY'S CURRENT REPORT
As of April 30sT 2008 the Waterloo Housing Authority have the capacity to serve
1040 Section 8, and 50 Public Housing tenants.
The Waterloo Housing Authority has the following actual number of tenants on our
Public Housing and Section 8 program.
The numbers below will fluctuate depending on the number of terminations,
evictions or tenants that voluntarily left the program per week, month, and
year.
A tenant may be terminated for fraud, lack of utilities or Violent Criminal activities
etc.
Section 8 lease ups 1001
Public Housing lease up 50
Total 1051
WAITING LIST
Applications for Section 8 tenants are taken every Thursday all day from 8am-4
pm, no appointment necessary.
The Public Housing applications are taken daily.
The Waterloo Housing Authority's Section 8 waiting list consists of approximately
610 Applicants.
The waiting list is approximately 10months to 10 months to 1- year long. Anyone is
encouraged and welcome to apply to Section 8 and Public Housing.
The Waterloo Housing Authority policy states the WHA will publicize the
availability and nature of the Section
8 Program for extremely low-income,very low and low-income families should
the waiting list become shorter than six- months in a newspaper of general
circulation, and by other suitable means. Tenants that are on low income are
not necessarily on the Section 8 program.
Homeownership Voucher
Homebuyers total Vouchers available 30
Closed Mortgages 14
RIDGEWAY TOWERS APARTMENTS/PUBLIC HOUSING
Ridgeway Towers are at 96%occupancy in the senior citizens apartments.
PUBLIC HOUSING
Total available 50
Leased 48
HOUSING STAFF ATTENDED THE FOLLOWING MEETINGS/FUNCTIONS
MONTHLY
a.Department head meeting Weekly
b.Staff with Noel Weekly
C.Directors Meeting Quarterly
d.Council Meeting Weekly
e.INAHRO Board Quarterly
£RSVP Monthly
g.Country View Month
Total FSS Participants on program 73
Number of graduates April 2008 2
Number of participants job search 17
Number of participants' working/Number of participants going to school 17
Number of Participants with escrows 51
Total number of escrows paid out to participants 2
Total number of Escrows forfeited 0
Total amount Escrow forfeited 0
RIDGEWAY Towers projects in progress.
Installing fence around the front of Ridgeway Towers building and the patio in
progress.
Sewer intake at Ridgeway Towers
See attached Calendar year Housing Assistance Payment for 2007 and 2008
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